Santos Ltd.: Update following rating affirmation
Santos Ltd's credit profile reflects the company's operational diversity and high levels of ownership across asset hubs, balanced against its exposure to volatile oil and gas prices.Santos is a natural gas company engaged in the exploration for, and development, production, transportation and marketing of, hydrocarbons. Co.'s operating segments consist of five key assets/operating areas of: Cooper Basin; Gladstone LNG; Papua New Guinea; Northern Australia; and Western Australia gas; based on the nature and geographical location of the assets, plus Other non-core assets. Co.'s proved petroleum reserves were 485.0 million barrels of oil equivalent at Dec 31 2016.
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